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Bahrain’s First Sugar Plant to Start Early 2013, Alwasat Says

July 24 (Bloomberg) -- Bahrain’s first sugar-refining plant is due to start operating early next year, Alwasat newspaper reported, citing the International Investment Bank, which holds a 22 percent stake in the project.

The project’s capital is $99 million and it will produce 585,000 metric tons of refined sugar a year, the newspaper said, citing the bank’s chief executive officer, Aabed al-Zeera.

An agreement has already been signed to sell part of the plant’s production to a wholesaler in Saudi Arabia and management are in talks with buyers in Iraq and other neighboring Persian Gulf countries, al-Zeera told the daily.

To contact the reporter on this story: Wael Mahdi in Manama at wmahdi@bloomberg.net

To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net

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